If you are getting that feeling that you are slowly outgrowing the category of small business, you may need to relook and reassess your growth strategies and work towards the next steps to taking your business to the next level. These are just a few easy and simple ways you can begin to make the next move, thus moving into the medium or bigger sized business market with ease.
Work on Improving Existing Customer Relations
With customers being the bread line of all businesses, it is purely common sense that you need to gain more if you want to increase your sales and indeed company size. The best place to start at this point is on your existing customer base. Those customers who already choose to buy from your business are your best choice for further increasing sales as a start. This is merely because they don’t require additional selling techniques before they purchase from you. Work on these first and then move on to gain new customers.
Work on Attracting New Customers
Now is the time to begin expanding your customer horizons and the best way to start is by referrals from existing customers. Engage with current customers and discover ways of getting the message of your business out through them and beyond. Perhaps look at a referrals scheme or hand out literature with friends and family discounts. Ultimately, ensure that the customer service and support that you offer your current customers is noteworthy for them to consider recommending your services further afield.
Work on Extending Your Market Research
Once you have exhausted all known methods of attracting existing and new customers, next utilize other techniques of market research available to you and look at the many ways that you could possibly draw a potentially new selection of customers.
If you currently advertise online, are there any methods offline as such that you can partake in, for example, billboards, car wrapping, and leaflet distribution?
Alternatively, have you discovered the power of website advertising yet? Do you have your own business website which is regularly updated and offers all those interested in your business something more than your competitor’s sites do? How do you advertise your products on this website?
Also, could you get your services and company name on to a succession of other websites that are relevant to what you have to offer and allow advertising on their own site?
Do you have an active social media account or maybe more than one? Is there somebody savvy enough in the company to promote your business daily through the communication of Twitter or Facebook for example?
Get yourself in front of new audiences and target specific markets which may differ than what you have already aimed at, but approach them with a slant that works for them as a category. You could well attract a more significant number of potential customers to your growing business this way.
Work on Finding a Niche Market
Though you may not realize it, there are many ways for you to tailor the business products and services you offer to a few niche markets. It is all merely a case of being creative! Think outside the box and adapt your marketing strategies towards providing customers a new niche on your products and services.
For example, if you are a financial consulting firm, can you target students looking at signing up with universities for the first time, who are searching for help on how to stay out of debt?
Maybe you are an insurance provider and notice several vets and pet stores in your immediate area. Could you offer a scheme whereby if they mention the local shop or veterinary practice, they receive an exclusive discount on your company’s pet insurance plans?
Work on Making Yourself Visible at External Shows
These days, there is a trade show it seems for almost any kind of business and virtually every type of category. That means that it is possible to find a specific show or maybe even more than one where you can showcase your business to a broader audience. If you can manage to attend two or three in a year, make sure you display yourself in the most eye-catching way possible. Double check that the marketing items which you take with you to hand out stand out from the rest, and ensure potential customers and investors do not forget you once the show is over.
Ultimately, once you have got back to business after your trade show experience, do not forget to follow up all potential and interested customers, or investors, with a polite message a few days after the event. Better still, add them to your mailing lists as a way of staying relevant in their minds.